Singapore is probably the only country in the world that has made huge strides in improving the quality of life for its residents in less than half-a-century.
This has been attributed to visionary and dynamic leaders, hard-working citizens, and business-friendly government. It is now regarded as the epitome of Asia as it attracts business leaders, corporate entities, and investors from across the world.
If you are an international investor, there is a need to understand company incorporation services in Singapore. This will be your first step in investing in this wonderful country.
The following are some of the reasons that make this country the best haven for international investors:
Security and Business-Friendly Environment
A recent report by World Bank shows that Singapore is the top country when it comes to doing hassle-free business. It is also ranked as one of the most competitive economies in the world, providing infrastructure, IP protection, and incentives to the investors. As a result of this business-friendly ecosystem, the country has attracted a lot of multinational corporations.
Availability of Affordable Funding
Singapore is home to over 150 fund managers, 290 capital markets license holders, and 120 commercial banks that enable entrepreneurs to raise money at low rates. For instance, you can find funding at 1% per annum!
Moreover, the Singapore Exchange is one of the largest forex trading centers across the world. In addition, the personal tax structure is designed to be progressive with the marginal rates that range from 0% to 20%. Also, the framework allows residents to benefit from reliefs. In this way, it lowers their net payments.
Strategic Location
Singapore boasts excellent connectivity, comprehensive trade agreements, and strategic location. Ideally, the city-state is in the midst of emerging markets like India, China, Thailand, Indonesia, Myanmar, and Vietnam. This offers companies operating in this area a strategic advantage over their competitors. It is also home to the best airport in the world – Changi International. It serves over 90 international airlines. In this way, it connects people to over 160 countries. It also hosts various leading logistics firms like FedEx and UPS.
Thus, connectivity is not an issue.
Over the years, Singapore has signed several Free Trade Agreements and Avoidance of Double Tax Agreements. This facilitates transport and trade across the boards. This makes it easy for companies to expand their operations to other neighboring countries.
Quality of Life
Singapore is one of the favorite cities in Asia for expatriates because of its stability and low pollution levels. Other things include recreational provisions, public services, and mastery of the English language among residents. It is the right place to raise a family thanks to modern medical facilities, housing, education, excellent public transportation, and different cultures.
Low Crime Rate
It is important to note that Singapore is the least corrupt country in this part of the world.
In fact, corruption laws are enforced tightly. This allows entrepreneurs to carry out their businesses without any red-tape or bureaucratic hassles. Moreover, its legal system is one of the best. This has resulted in low crime rates.
If you have decided to establish a company in Singapore, then you have to follow the right steps. In fact, company incorporation services in Singapore are fairly simple and affordable. It is vital to determine your business structure to ensure it meets the legal requirements.
